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Munich Personal RePEc Archive

Get rid of banks and build up a modern financial world

Lenz, Rainer (2011): Get rid of banks and build up a modern financial world.

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Abstract

The financial crisis has revealed fatal institutional and structural deficits at the finance market. Politics has reacted to the financial crisis with a sea of legal bills and regulations. But all regulating efforts are merely system-imminent reparation measures and do not solve the core problems. For this, a fundamental financial reform is needed. This article analyzes the finance system’s shortcomings, documents the reform approaches from the past three years, and designs a base structure for modern finance architecture without banks.

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